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61-69 Wadsworth Avenue

175-177 Wadsworth Associates LLC Acquires Multifamily In Washington Heights For $9.5M
SOLDMultiFamily

175-177 Wadsworth Associates LLC Acquires Multifamily In Washington Heights For $9.5M

61-69 Wadsworth Avenue & 71-79 Wadsworth Avenue

$9,500,000

$52/SF

Building Size

181,320 SF

Asset Type

MultiFamily

Closing

Feb 20, 2024

AI

The multifamily property located at 61-69 & 71-79 Wadsworth Avenue in Washington Heights, Manhattan, was sold for $9,500,000. This property consists of 110 units with a price per unit of $86,364. The total square footage of the property is 90,660, translating to a price per square foot of $105.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,500,000
  • Units: 110
  • Price Per Unit: $86,364
  • Square Footage: 90,660
  • Price Per Square Foot: $105
  • Address: 61-69 & 71-79 Wadsworth Avenue
  • Market: Washington Heights, Manhattan

The sale of this property was facilitated by Amit Doshi and Shallini Mehra, who are both from Meridian Capital Group. Jacob Schmuckler, also from Meridian Capital Group, served as the mortgage broker in this transaction.

Players

Shallini Mehra

Meridian Capital Group

Broker

$1.1B

vol

78 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93